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Casa Buena 24271 Webster Ave

14 Unit Block of Flats £3,133,199 (£223,800/Unit) 4.89% Net Initial Yield Moreno Valley, CA 92553

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Investment Highlights

The complex is securely gated and has off-street, covered parking spots.

There is potential to add ADUs on the land to quickly increase NOI.

Executive Summary

We are excited to present Casa Buena, a 14 unit gated apartment community in the heart of Moreno Valley, a booming economic and industrial hub in Southern California. Casa Buena is comprised of 1 and 2 bedroom units, most of which have have undergone renovations and upgrades including new flooring, new paint, and updated appliances. All units also have air conditioning, heaters, and 12 units have new tile floors.
The complex is securely gated and has off-street, covered parking spots. The parking lot has been newly repaved and restriped this year. There is potential to add ADUs on the land to quickly increase NOI. An onsite manager is not required for this property.

Property Facts

Price	£3,133,199	Building Class	C
Price Per Unit	£223,800	Lot Size	0.91 AC
Sale Type	Investment	Building Size	21,400 SF
Net Initial Yield	4.89%	Average Occupancy	100%
Gross Rent Multiplier	14.18	Number of Floors	2
No. Units	14	Year Built	1981
Property Type	Residential	Parking Ratio	1.36/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Garden

Price	£3,133,199
Price Per Unit	£223,800
Sale Type	Investment
Net Initial Yield	4.89%
Gross Rent Multiplier	14.18
No. Units	14
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.91 AC
Building Size	21,400 SF
Average Occupancy	100%
Number of Floors	2
Year Built	1981
Parking Ratio	1.36/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.